Salesforce Inc. (NYSE:CRM) Shares Sold by ORG Partners LLC

ORG Partners LLC lowered its holdings in shares of Salesforce Inc. (NYSE:CRM) by 73.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 969 shares of the CRM provider’s stock after selling 2,723 shares during the period. ORG Partners LLC’s holdings in Salesforce were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new stake in shares of Salesforce during the fourth quarter worth about $236,000. Brighton Jones LLC grew its holdings in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Salesforce during the fourth quarter worth about $104,173,000. Revolve Wealth Partners LLC grew its holdings in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in Salesforce in the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRM shares. Oppenheimer restated an “outperform” rating and issued a $370.00 target price on shares of Salesforce in a report on Tuesday, June 10th. Piper Sandler boosted their target price on shares of Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, May 28th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Stephens lowered their target price on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. Finally, Canaccord Genuity Group lowered their target price on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $349.08.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Millham sold 3,937 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,111 shares of company stock valued at $9,299,283 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.5%

CRM opened at $260.79 on Friday. The stock has a market capitalization of $249.31 billion, a PE ratio of 40.81, a P/E/G ratio of 2.35 and a beta of 1.38. The firm’s fifty day moving average price is $268.51 and its 200 day moving average price is $297.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce’s dividend payout ratio is presently 25.98%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.